This paper presents an efficient complexity-aware coding method for the popular 3-D video format, multiview video plus depth (MVD). Specifically, we propose a complexity-rate-distortion (C-R-D) model for the synthesized view. The proposed C-R-D model is then utilized to efficiently allocate the scarce computational resource for the texture and depth encoders to achieve the optimal quality of the synthesized view. Experimental results show the effectiveness of the proposed model and complexity allocation solution. Compared with the straightforward complexity allocation method with a fixed 1:1 ratio, the proposed method provided 0.2-0.9 dB gain in the peak-signal-to-noise ratio (PSNR) of the synthesized view quality.